A tectonic shift is occurring in the science landscape, wherein newly-developed nations are audaciously investing in frontier scientific research at par with developed nations. India is game to join this new wave of advancement, but its research-funding mechanisms are deficient. Can Indian philanthropy endow indigenous R&D?

What should the 2016-17 Union Budget in the pipeline propose for India’s fiscal stance? Is there a growth-oriented case to raise public investment and the deficit target above the planned fiscal consolidation? A review in the right global and regional context.